Fitbit Shares May Soon Become Too Cheap To Ignore

Let's be clear about something: Fitbit (NYSE:FIT) had a terrible fourth quarter and has numerous strategic challenges that it must overcome. Much of last quarter's woes were directly related to weaker-than-expected demand that led to increased channel inventory and elevated return reserves, among other one-time charges. Shares have been rightly punished for the poor holiday performance, and continue to trend lower.